Mutual Fund Newsletter - July 29 to August 02, 2013

India Infoline News Service | Mumbai |

Mutual funds sold Rs. 2.96 billion in equity compared to Rs. 35.08 billion invested in May 2013.

Top Stories

MFs receive investments worth Rs. 643bn in June

Mutual Funds made net investment of Rs. 646.33 billion in the secondary market in June 2013 compared to investment of Rs. 303.48 billion in May 2013, according to Securities and Exchange Board of India data.  Mutual funds sold Rs. 2.96 billion in equity compared to Rs. 35.08 billion invested in May 2013. Mutual Funds invested Rs. 646.02 billion in debt market in June 2013 as against of Rs.268.4 billion invested in May 2013. Read more...

Direct plans now constitute 25% of mutual fund AUM: CRISIL

A study by CRISIL Research, India’s largest independent and integrated research house, reveals that direct plans, launched since January 1, 2013, are increasingly attracting large investors. Average assets under management (AUM) of direct plans offered by mutual funds rose by almost 70% to Rs 2.14 trillion during the June quarter from Rs 1.27 trillion in the March quarter. Direct plans now constitute 25% of the total industry AUM against 15% in the previous quarter. Debt-oriented mutual funds constitute 98% of the total AUM under direct plans. Read more...

Insurers likely to invest in proposed ETF

The finance ministry said that IRDA (Insurance Regulatory and Development Authority) will soon notify the proposed central public sector enterprises-exchange traded fund as an investment product for insurers, according to a media report. Read more...

Domestic News

MFs report net outflow of Rs. 484bn in June

Mutual funds saw a net outflow of Rs. 484.03 billion in June 2013 as compared to a net inflow of Rs. 374.35 billion in May 2013, according to SEBI (Securities and Exchange Board of India) data. The private sector mutual funds reported an outflow of Rs. 407.21 billion in June, while public sector mutual funds witnessed an outflow of Rs. 76.82 billion, the data added. Read more...

Reliance General Insurance launches “Reliance HealthGain”

Reliance General Insurance Company (RGI), a part of Reliance Capital Limited and one of India’s largest selling private general insurers, today announced the launch of its innovative and unique Health Insurance Plan - Reliance HealthGain - for the retail segment. Read more...

Reliance MF holds highest AUM in direct plans

Reliance Mutual Fund held the highest AUM (assets under management) under direct plans in the June quarter at Rs. 224 billion compared to Rs. 110 billion in the previous quarter, according to a study by CRISIL Research. Read more...

Share of money market funds highest in direct plans AUM

Money market funds (liquid and ultra short term funds) contributed the most to average AUM (assets under management) of direct plans in absolute terms, according to study by CRISIL Research. Read more...

PMS assets stand Rs. 6.22 trillion in June

Total assets under management (AUM) of portfolio management services (PMS) industry have increased by 0.9% to Rs. 6.22 trillion in June 2013 from Rs. 6.17 trillion in May 2013, according to Securities and Exchange Board of India data. Read more...

Special Stories

SEBI tightens disclosure rules for hedge funds

Capital market regulator SEBI (Securities and Exchange Board of India) tightened disclosure norms for hedge funds and other alternative investment funds using complex trading strategies, especially for those leveraging investments for higher returns or borrowings. Read more...

SEBI reduces FII debt limit utilisation period by 2 days

Market regulator SEBI (Securities and Exchange Board of India) reduced the time given for foreign institutional investors (FIIs) to utilise the debt limits purchased in auctions by two days. FIIs/QFIs shall be permitted to utilise the debt limits allocated to them in each monthly auction till the 17th day of the succeeding month, SEBI said in a circular on Wednesday. Read more...

Preferential allotments fall to 33 in June

Fund-raising by issuance of shares to promoters and shareholders on preferential allotment stood at Rs. 118.78 billion in June, according to SEBI (Securities and Exchange Board of India) data. The June number has touched the highest level since May 2012, when the funds had raised a total of Rs. 149.87 billion via preferential allotments route. Read more...

Primary market raises Rs. 4.32bn in June

Exchanges may shift 16 cos to normal trading: SEBI


Learning

Understanding the basics of mutual fund deadlines

Approval from the regulator
Before an asset management company (AMC) launches a scheme, it has to file a draft offer document with market regulator SEBI (Securities and Exchange Board of India) and get its approval.  The draft offer document is available on the SEBI website for public comments for 21 days from the filing of the document with SEBI. The regulator may specifies changes, if any, in the draft offer document and the AMC or the lead merchant banker shall carry out such changes in the draft offer document before filing the offer document with ROC (Registrars of Companies) / stock exchanges. Read more...

 

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